Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

Philippine port operator ICTSI sails into Papua New Guinea

Excerpts from Asia Nikkei:

ICTSI is no longer running the Port of Portland, but it is looking for footholds in other overseas markets.

International Container Terminal Services has bagged contracts to run two new ports in Papua New Guinea, as the Philippine company moves to build up its emerging-market portfolio.

Papua New Guinea is the […]

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Philippine port operator ICTSI’s profit hit by Argentina woes

International Container Terminal Services (ICTSI) said Tuesday that net profit slipped 3% to $46.4 million for the second quarter of 2016 as expenses related to Argentine operations offset improved revenue.

The Philippine company, which runs around 30 midsize ports worldwide, did not elaborate on the situation at its TecPlata port in Buenos Aires. Business News […]

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Philippine port operator ICTSI aims to outpace its global peers

ICTSI’s first attempt at operating in the United States has resulted in crippling problems at Terminal 6 in Portland.

With 30 port concessions in 20 countries across six continents, International Container Terminal Services is the most globalized Philippine corporation by geographical scope.

Compared to its global peers, however, ICTSI still has a ways to go. […]

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ICTSI head: Investments in 'bad places' pay off when there's no competition

From an article titled ‘Investors should take long-term view,’ in the Manila Times:

Enrique Razon, CEO of ICTSI, the terminal operator that took over management of Portland’s Terminal 6 in 2010.

Taking a long-term view and aiming to “own the market” should be considered by corporate giants looking to invest overseas, a Philippine business […]

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ICTSI expects to spend only half of its 2015 budget as global growth slows down

Philippines-based port operator International Container Terminal Services Inc. (ICTSI) has revealed that it expects to spend only half of its US$530m established budget for this year and limit expansion plans as global growth is slowing down.

The company’s chairman and president, Enrique Razon, told Bloomberg that “the growth picture of the global economy is not […]

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ICTSI chief may be set to focus more on leisure than the old family business

From The Loadstar:

“Enrique Razon doesn’t gamble, and says he feels more comfortable operating a port crane than he does glad-handing a crowd of high-rollers,” Bloomberg wrote in November 2013.

Mr Razon, worth an estimated at $4.7bn, according to Forbes, may not be into gambling; nonetheless, there is reason to believe he must be unimpressed […]

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ICTSI buys Mexican port firm for $55m

International Container Terminal Services Inc. said Thursday it acquired a Mexico-based container terminal operator for $55.4 million to expand its presence overseas.

ICTSI, the Philippines’ largest port operator controlled by businessman Enrique Razon, said it purchased 100 percent of Terminal Maritima de Tuxpan SA de CV from Mexico’s logistics and transportation company Grupo TMM SAB […]

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ICTSI plans to expand its presence in Africa

International Container Terminal Services, Inc. (ICTSI) plans to widen its presence in Africa, as it bids for the privatization of ports in Cameroon and Kenya, its chief said.

“We participated in bid for Cameroon, [but] we still don’t know the results. There’s also this one thing big coming up in Kenya, Mombasa. Those two are […]

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Manila port congestion weighs on ICTSI’s third-quarter financial performance

From InterAksyon.com:

International Container Terminal Services Inc’s (ICTSI) net income fell by more than a fourth in the third quarter mostly because of higher operating expenses at its new terminals.

In a disclosure to the Philippine Stock Exchange, the Enrique Razon-led port operator said its profit went down by 26 percent to $34.1 million in […]

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On growth, ICTSI wants 'to do in Africa what we did in Latin America'

To say that ICTSI doesn’t respect workers and their unions is a massive understatement. Honduran dockworkers have suffered major job losses, violence, and militarization of their cargo terminal since ICTSI took over operations at Puerto Cortes in 2013. In March, several Honduran dockworkers traveled to Portland, Oregon, to protest ICTSI’s locking out of union […]

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ICTSI bags 26-year contract to build, operate container terminal in Australia

International Container Terminal Services Inc (ICTSI) has bagged a 26-year contract to construct and operate a container terminal in Melbourne, Australia.

In a disclosure to the Philippine Stock Exchange, the Enrique Razon-led port operator said its subsidiary in Australia, Victoria International Container Terminal Ltd (VICTl), has signed a contract with Port of Melbourne Corp […]

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Murder, death threats and violent thugs accompany ICTSI into Central America

Enrique Razon, CEO of ICTSI, has amassed $4.5 billion in wealth by operating terminals — and exploiting port workers — around the world. He is the 4th richest man in the Philippines, according to Forbes Magazine..

International Container Terminal Services Incorporated (ICTSI) – the rogue employer responsible for flagrant contract violations at the Port […]

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ICTSI seeks tax perks for expansion of Manila Int’l Container Terminal

International Container Terminal Services Inc (ICTSI) is seeking tax perks from for the expansion of the Manila International Container Terminal (MICT).

In the first nine months, ICTSI’s net income amounted to $128.8 million, up 22 percent from last year’s $105.8 million. Gross revenues in the first nine months reached $624.7 million, 17 percent higher than […]

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Honduras: Protejan la vida del líder sindical Víctor Crespo

Victor Crespo, head of the Trade Union of Dockworkers, or STGM by its Spanish acronym, is currently under the protection of the ITF. Armed attackers stormed his house last week in an attempt to murder him for representing dockworkers in negotiations with ICTSI. Brother Crespo’s neighbors were able to fend off the attackers, who […]

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ITF to ICTSI: End the threats and violence against union workers

The following letter was sent to ICTSI CEO Enrique Razon and several ICTSI executives on Sept. 20, 2013.

[UPDATE: Four months later, in January 2014, the father of Victor Crespo was murdered near his home.]

Mr Enrique K Razon Jr President ICTSI Manila Head Office ICTSI Administration Building Manila International Container Terminal MICT […]

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